Plasma Lighting Market Size, Share, Opportunities, And Trends By Component (Lightron, Waveguide, Bulb Assembly, Cavity Resonator), By Wattage (300W, 700W, 1,000W), By Industry Vertical (Sports, Building And Construction, Manufacturing, Others), And By Geography - Forecasts From 2024 To 2029

The plasma lighting market is expected to grow at a CAGR of 6.82%, reaching a market size of US$236.457 million in 2029 from US$149.008 million in 2022.

Long-lasting lights and energy-efficient lighting solutions are two main factors propelling the market's expansion. The demand for LED lighting is increasing in large outdoor areas and high-ceiling applications. There is also a growing acceptance of indoor farming systems with plasma lighting worldwide. In addition, there is a shift away from traditional lighting systems in marine applications, a surge in infrastructure development activities in developing economies, and widespread use of LED lighting in greenhouses. All these factors are expected to boost market growth over the forecast period. Long lifespan, high energy efficiency, better lumen maintenance, enhanced dimming performance, superior color rendering, high light output, and lower cost compared to LEDs are some advantages of plasma lighting that ultimately drive the market growth.

Plasma Lighting Market Drivers

• Rising demand for energy-efficient lighting

Increasing demand is driven by the need to lessen environmental impact while lowering energy use and operational expenditure. Plasma lighting systems fulfill this need as they are more energy-efficient compared to other conventional lighting technologies. Consequently, significant energy savings in both domestic and commercial sectors are enabled by the high lumen output for each watt of power consumed by plasma lights. Plasma lighting is an attractive option since there is more awareness around sustainability and climate change—so people choose this lighting that saves energy while being the most effective.

• Technological developments in plasma lighting

Improved lifetime, color rendition, controllability, design, and stability are among the many areas in which progress has been made. These trends have significantly influenced the acceptance and proliferation of this technology. By increasing efficiency, plasma lighting systems are even more energy-efficient, which makes them more attractive to final consumers. Enhancing aesthetic appeal in lit areas is only made possible through improved color rendition skills, whereby definite colors are accurately represented. Lowering maintenance costs resulting from prolonged lifetimes also plays a crucial role in reducing the overall maintenance cost of plasma lighting systems.

• High demand for energy efficiency

People are increasingly using plasma lighting for street lighting because it is more energy efficient than the energy-hungry metal halide or sodium-pressure ones. In street lighting, sometimes these cities use high-pressure sodium (HPS) lamps or metal halide ones that consume much power. When the new plasma lightening was introduced into the streets, it consumed forty percent less electricity than before. Indoor farms and greenhouses require proper lighting to optimize plant growth and yields. Plasma lighting saves more energy than High-Intensity Discharge (HID) lamps like metal halide or high-pressure sodium light bulbs. Previously, 1000-watt HPS backup lamps lit crops. However, these HPS lights were replaced with 315-watt plasma lamps, which produced more or less the same levels of light but had lower power consumption.

• High use of waveguide technology

Crucial factors drive increasing demand for energy-efficient lighting, advancements in waveguide technology, and expanding applications. Waveguides facilitate shaping and guiding electromagnetic waves in plasma lightning systems, which optimizes light distribution and system performance. The continuing research in this area is aimed at a better waveguide design, material composition, and manufacturing processes, thus enhancing energy transmission efficiency and compactness. Enabling accurate customization of plasma lighting parameters is the possibility of integrating them with intelligent control systems. Moreover, horticulture, automotive lighting, and specialty lighting have expanded the market beyond traditional applications. Manufacturers in the plasma lighting market must be well placed, for they would focus their efforts on advancing waveguides, reducing costs incurred while integrating with other devices used for controlling, such as computers, etc.

• Increased application of plasma lighting in the horticulture industry

The increasing demand for indoor farming in urban areas worldwide, coupled with the high uptake of indoor farming in Europe, is anticipated to bolster market growth during the forecast period. Due to the growing urban population, there will likely be less agricultural land available, which will increase demand for indoor farming solutions. As a result, the market is expanding due to the growing demand for indoor farms that use plasma lighting to boost productivity. Because these lights can replicate sunlight, they can enhance photosynthesis in plants.

Plasma Lighting Market Geographical Outlook

• North America is witnessing exponential growth during the forecast period

The region’s focus on sustainable development and energy efficiency is what promotes the use of this type of lighting as a solution to environmental pollution. Furthermore, strict laws and programs that promote energy efficiency have also served to spur the market. Moreover, there is a rising trend in the market as quality illumination is required in sectors like industrial, architecture, and urban streets, among others. That’s why plasma lighting is preferred over other options because of its longevity in service, ease of maintenance requirements, and capacity to produce powerful and even lighting patterns. The strong research and development network across North America supports the occurrence of technological advancements, hence increasing efficiency and effectiveness in plasma lighting systems. Furthermore, well-established market players and an effective network of suppliers and distributors ensure easy access to plasma lighting choices.

Plasma Lighting Market Key Launches

• In October 2022, a new product was introduced by ETi Solid State Lighting called SilentAire Plasma Disinfection Light Fixtures. These fixtures actively treat and disinfect the air to kill bacteria and viruses, including SARS-CoV-2, while combining traditional ambient LED illumination with patent-pending ‘cold’ plasma bipolar ionization technology. The light fixtures don’t need special installation as they can be controlled easily with a standard wall switch indoors. It’s said that plasma technology in such light fixtures would enhance air quality securely and naturally while reducing airborne diseases’ transmissions simultaneously.

Segmentation:

• By Component
  • Lightron
  • Waveguide
  • Bulb Assembly
  • Cavity Resonator
• By Wattage
  • 300W
  • 700W
  • 1,000W
• By Industry Vertical
  • Sports
  • Building and Construction
  • Manufacturing
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others